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<ul>
 <li>CME Group plans to introduce real-time indices for XRP and ICP, updated every two seconds, with daily benchmark values at 4 p.m. UTC.</li>
 <li>The inclusion of XRP and ICP highlights increasing institutional demand for reliable cryptocurrency benchmarks and transparent data.</li>
 <li>Speculation about an XRP ETF grows, supported by Garlinghouse’s claim of its inevitability and recent advances in trustworthy benchmark rates.</li>
</ul>
<p>Ripple CEO Brad Garlinghouse recently <a href="https://x.com/bgarlinghouse/status/1811493403160641820" target="_blank" rel="noopener noreferrer nofollow">announced</a> a major milestone for XRP on the X social media platform where he revealed plans to introduce real-time indices and reference rates for XRP in partnership with CF Benchmarks. Garlinghouse highlighted the importance of having “a trusted benchmark reference rate” for institutional crypto products, stating, “The market has spoken,” indicating the increasing demand for dependable price feeds among institutional investors.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f440.png" alt="👀" class="wp-smiley" style="height: 1em; max-height: 1em;">First step towards institutional crypto products is to have a trusted benchmark reference rate. Nice to see <a href="https://twitter.com/CMEGroup?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@CMEGroup</a> and <a href="https://twitter.com/CFBenchmarks?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@CFBenchmarks</a> collaborate on this for an XRP index. The market has spoken. <a href="https://t.co/cKqqMLswdw" rel="noopener noreferrer nofollow">https://t.co/cKqqMLswdw</a></p>— Brad Garlinghouse (@bgarlinghouse) <a href="https://twitter.com/bgarlinghouse/status/1811493403160641820?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 11, 2024</a>
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<p>Besides XRP, CME Group created real-time Internet Computer (ICP) indices, updated every two seconds based on order book activity from big digital asset trading platforms, including Coinbase, Bitstamp, and Kraken. Moreover, daily benchmark values for many cryptocurrencies will be provided at 4 p.m. UTC, emphasizing CME Group’s intention to expand its Bitcoin offerings.</p>
<p>CME Group first <a href="https://cryptonewsland.com/cme-group-eyes-mainstream-crypto-adoption-with-bitcoin-trading-and-futures-options-creating-next-wall-street-frontier/" target="_blank" rel="noopener noreferrer nofollow">presented</a> real-time reference prices and indexes for Bitcoin in 2016, then added cryptocurrencies like Ethereum, Algorand, Avalanche, Bitcoin Cash, Cardano, Chainlink, Litecoin, Stellar Lumens, Uniswap, and many others. The inclusion of XRP and ICP lately emphasizes the increasing need and desire for a wider spectrum of cryptocurrency benchmarks.</p>
<p><strong>&nbsp;XRP ETFs Speculations</strong></p>
<p>There has been much speculation regarding the potential release of an XRP ETF since Garlinghouse previously stated that it was “inevitable.” Recent XRP advances, as well as the release of trustworthy benchmark rates, might open the path for such financial products.</p>
<p>Van Eck and 21 Shares applied last month to start Solana ETFs. Furthermore, spot Ethereum ETFs are expected to begin trading in July, following recent S-1 filings by several potential issuers. These actions show a rising interest in institutional-grade cryptocurrencies and the possibility of XRP’s integration into this trend.</p>
<p>Along with the expected trading of spot Ethereum ETFs, recent applications for Solana ETFs by VanEck and 21 Shares show the growing trend of including cryptocurrencies into conventional financial markets, signifying a greater acceptance of digital assets and opening new investment opportunities.</p>
<p>The inclusion of XRP and other cryptocurrencies in these indexes and ETFs indicates a future where digital assets will be increasingly important in institutional portfolios as the market develops.</p>
<p>Real-time indexes and reference rates for XRP and ICP highlight the evolving landscape of institutional cryptocurrency investing by reflecting an increased need for consistent and open Bitcoin benchmarks.</p>
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<p>The post <a href="https://cryptonewsland.com/ripple-ceo-announces-milestone-xrp-index-with-cf-benchmarks/" rel="noopener noreferrer nofollow">Ripple CEO Announces Milestone XRP Index with CF Benchmarks</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Ripple CEO Announces Milestone XRP Index with CF Benchmarks

Crypto News Land

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